Funding Secured: Microbiome specialist MRM Health NV bags €55 million in Series B round

In a significant move for the pharmaceutical industry, Biocodex SA, a family-run company with licensed pipeline products, has taken the lead in the Series B financing round for MRM Health NV. This investment has secured MRM Health €55m (approximately US$64m) and given Biocodex an undisclosed stake in the company.

MRM Health, spun out of VIB Gent in 2020, is the developer of MH002, a live biotherapeutic currently being tested in a Phase IIb study for patients with mild to moderate ulcerative colitis. MH002, a patented butyrate-producing lead product, is a proof-of-concept for the control of chronic intestinal inflammation associated with ulcerative colitis.

The unique aspect of MH002 lies in its composition. It consists of six optimized commensal bacterial strains, selected and optimized using MRM Health's scalable cGMP production platform. This live biotherapeutic has shown promising results in preclinical studies, significantly increasing butyrate production and inhibiting inflammatory responses.

In co-culture models and organoderm systems, MH002 has been shown to restore the epithelial barrier disrupted in ulcerative colitis. The partnership between MRM Health and Biocodex aims to bring two additional defined patented bacterial consortia in IND status into clinical trials. These pipeline products are intended for use in the fields of inflammation and immuno-oncology.

The strategic collaboration between MRM Health and Biocodex is not limited to the development of anti-inflammatory drugs. MRM Health also plans to expand its pipeline through strategic partnerships in the field of animal health.

Joining the supervisory board of MRM Health as part of the financing are Jean-Patrick Hennebelle (Biocodex), Julian Zachmann (ATHOS), and Goedele Ertveldt (SFPIM), along with representatives from BNP Paribas Fortis Private Equity, Ackermans & van Haaren (AvH), OMX Ventures Europe (OMX), Qbic II, and VIB.

This partnership marks a significant step forward in the development of novel therapeutic assets and the treatment of chronic intestinal inflammation. With Biocodex at the helm, MRM Health is poised to make a substantial impact in the pharmaceutical industry. The Phase IIb study results for MH002, which showed short-term safety and encouraging initial evidence of efficacy in colitis and pouchitis patients, add to the excitement surrounding this promising live biotherapeutic.